The Bitcoin cash price began a significant boost above resistance by $ 475. BCH consolidates and can strive for greater benefits above resistance of USD 500.
- The Bitcoin cash price began a recent boost above USD 480.
- The price is sold above USD 480, and a 100-hour straight movable average.
- There was a break over the key line of the Bear Trend with a resistance of $ 472 at the BCH/USD hour chart (data channel from Kraken).
- The couple can start another boost if they cleanse the resistance zone of USD 500.
The Bitcoin cash price begins fresh growth
After creating a base above USD 440, the Bitcoin cash price began a recent boost. BCh overtook Bitcoin and Ethereum to gain over 8%. A clear traffic was extended above the resistance zone worth USD 470.
The price exceeded even USD 480 and tested the resistance zone of USD 495. In addition, there was a break over the key line of bear trend with a resistance of USD 472 on the chart of the hourly pair of BCH/USD. The highest level has been created nearly 505 USD, and the price consolidates profits above 23.6% of the level of withdrawal of FIB movement up from a swing with a value of USD 455 to the highest level of USD 502.
The Bitcoin cash price is currently trading above USD 485, and a 100-hour straight movable average. Immediate resistance on the plus point is located near the level of USD 500. A clear movement above the resistance of USD 500 can start a decent growth. The next main resistance is 505 USD, above which the price can accelerate higher compared to USD 520. Any further profits can lead to a resistance zone of USD 535.
Are DIP served in BCh?
If Bitcoin’s cash price does not remove the resistance of USD 500, it may start a fresh decrease. Initial support in the minus is close to USD 490. Another earnest support is located near USD 480 or 50% of the level of withdrawal of FIB movement from a swing worth $ 455 to the highest level of USD 502.
If the price does not remain above 480 USD support, the price may test 470 USD support. Any further losses can lead to an $ 450 zone in the near future.
Technical indicators
The 4-hour MACD-MACD for BCH/USD loses the pace in the stubborn zone.
The 4-hour RSI (relative force indicator)-RSI is currently above level 60.
Key support levels – USD 490 and USD 480.
Key resistance levels – USD 500 and USD 505.
